U.S. Gov Shutdown Reboot: Countdown To The Shutdown, Part Deux

[JakeStratham]

This is a spin-off from here. That thread went off the rails early, and gained speed. So, a reboot.

In order to avoid a government shutdown last Friday, the state thugs agreed on a $38.5 billion cut in spending. They are touting it as the largest cut in history.

Let that sink in. We're over $14 trillion in the hole. And the thugs are congratulating each other about the "largest cut in history." A lousy $38.5 billion. To put that into perspective, here's Cafferty:

In the eight days leading up to the vote Friday night alone, our national debt rose by $54 billion.

Gettin' the picture? This is akin to an unemployed person who owes $100,000 on his credit card deciding to cancel his NetFlix account. It ain't enough. Not nearly.


And get this (also from Cafferty):

The next big fight on Capitol Hill will be over raising the nation's debt ceiling. The Treasury Department says we'll reach that limit of $14.3 trillion dollars around May 16. Starting this weekend, Congress will be on a two-week spring break. That makes a lot of sense. That means when they return, they'll only have about two weeks to hammer out a deal before the country runs out of money.

I'm guessing the thugs will raise the limit. After all, why not? Let the U.S.'s grandchildren pick up the tab. Taking our poor, unemployed schlub with the $100K credit card debt, imagine if he had the power to raise his card limit whenever he wanted. He has no hope of paying it off. He's gonna default.

That's where we are today.

 

[iPwnNoobs]

no seriously though - sounds like we need a revolution - the streets bathed in the blood of the thugs type thing. shot heard round the world 2.0

 

[BigWill]

sounds like we need a revolution

Very badly.

 

[music4mic]

i agree 100%- if they had managed to cut $500 Billion or something close, then I would say, OK that's a START. But 38 billion is laughable. I see a lot more congressman getting fired soon.

 

[JamesHenry]

I'm waiting for the riots like the 60's and 70's.
just got to focus the anger to tar and feathering wall street investment bankers, all ceo's making over 5 mill a year and speculators who drive up the cost of commodities.

Let the tea baggers (ball suckers) get their way, shut the government down. Puppets of rich folks like Gov. Scott Walker of Wisconsin screw the working people out of their collective bargaining rights.

only expect what justice money can buy

Pay what you got to in taxes but get yourself some cash gigs.

from
grumpy, cynical old man

thank you

 

[jeffrey]

I hope by thugs you mean both republicans and democrats. In all seriousness though, I've noticed a lot more people in my area starting to voice their opinions, it's about dam time this system gets fixed.

 

[JakeStratham]

I hope by thugs you mean both republicans and democrats. In all seriousness though, I've noticed a lot more people in my area starting to voice their opinions, it's about dam time this system gets fixed.

By thugs, I mean any person who votes to take property from citizens. That includes Republicans, Democrats, and (big L) Libertarians.

 

[Laterz]

Our sense of entitlements are literally sinking the country down the hole.
Most if the deficit are caused by entitlement programs which were enacted without thinking of the consequences.

 

[BluAffiliate]

38 billion in cuts translates in hundreds of billions over a decade. Obviously these cuts are not enough but lets be real here.

 

[edward_b]

Shit, that's some pretty big numbers: U.S. National Debt Clock : Real Time

 

[Rexibit]

Very badly.

Wasn't it Thomas Jefferson that said every few decades a country needs a revolution to keep the government in check? Hmm.

 

[jeffrey]

By thugs, I mean any person who votes to take property from citizens. That includes Republicans, Democrats, and (big L) Libertarians.

Ah thanks for clarifying. Too bad a revolution will probably never happen for a lot of reasons:

- The majority of those on welfare won't give a shit unless the government stops handing them whatever they want which would actually do good.

- The rich are getting richer thanks to our current policies. By rich I mean mega-millionaires.

- The middle class doesn't have the ability or resources to truly form a strong united group.

But these are just my humble opinions.

 

[JakeStratham]

38 billion in cuts translates in hundreds of billions over a decade. Obviously these cuts are not enough but lets be real here.

Two problems.

First, we're paying interest on the debt. The interest is outpacing the savings from the $38 billion cut. We'll shave hundreds of billions over a decade, but add far more:

Government - Interest Expense on the Debt Outstanding


Second, spending cuts never last. State thugs can't wait to spend, especially if it buys them votes.

But we definitely agree that $38 billion is not enough.

 

[jeffrey]

How about cutting that defense budget in half?

 

[JakeStratham]

How about cutting that defense budget in half?

And not force the world to respect the dollar?! Are you crazy, man?!

Here's where we should start:*

A $21 Trillion Tax Cut - James Ostrowski - Mises Daily



h/t to fm1234 (Frank)

 

[BigWill]

Wasn't it Thomas Jefferson that said every few decades a country needs a revolution to keep the government in check? Hmm.

"God forbid we should ever be twenty years without such a rebellion.
The people cannot be all, and always, well informed. The part which is
wrong will be discontented, in proportion to the importance of the facts
they misconceive. If they remain quiet under such misconceptions,
it is lethargy, the forerunner of death to the public liberty. ...
And what country can preserve its liberties, if its rulers are not
warned from time to time, that this people preserve the spirit of
resistance? Let them take arms. The remedy is to set them right as
to the facts, pardon and pacify them. What signify a few lives lost
in a century or two? The tree of liberty must be refreshed from
time to time, with the blood of patriots and tyrants.
It is its natural manure."

 

[PhillipMarlow]

I don't think it will happen. If it does those in power will just pull another Kent state. The thugs that those in power have in place are 10x as stupid, mean and ruthless than they've ever been, imo.

 

[Moxie]

Most if the deficit are caused by entitlement programs which were enacted without thinking of the consequences.

 

[DanWesson]

^^That's an interesting chart, but a link to the site also would have been helpful. I understand what they are saying in that the entitlements are technically separate in budgeting and reporting

These figures are from an analysis of detailed tables in the “Analytical Perspectives” book of the Budget of the United States Government, Fiscal Year 2009. The figures are federal funds, which do not include trust funds — such as Social Security — that are raised and spent separately from income taxes. What you pay (or don’t pay) by April 15, 2008, goes to the federal funds portion of the budget. The government practice of combining trust and federal funds began during the Vietnam War, thus making the human needs portion of the budget seem larger and the military portion smaller.

Their goal is, of course, promoting their agenda, so adjusting a chart while saying, "Well, these funds are collected separately, so the gov't is being decepetive," is somewhat misleading isn't it?
Maybe I completely missed the point...

I don't care if I pay for one on April 15th and the others throughout the rest of the year, or even if it's more convenient for illustrative purposes to combine them all into one nice graph. When baby boomers are added into the entitlements equation, the scales will tip to nearly guarantee any young person today paying into these programs will receive zero benefit from them.

Lets see deep cuts to them all, let the babies who can't wean themselves from the gov't teat revolt and riot and kill each other, and move forward with a renewed national respect for self-sufficiency.

Lol, yeah, it's a pipe dream. Jake's right, they'll raise the limit, but not before a bunch of political posturing and scoring points for their base. The budget won't significantly change. We'll likely end up with a Progressive Republican (Romney) or the current Progressive Democrat encumbent after 2012. Spending will continue to increase. If any sort of uprising did occur, it won't be big enough, it will be quickly silenced and covered up, and Americans will move that much closer to having nearly every decision that matters being decided for them. Say what you will about Boehner. I'm not his biggest fan or anything, but I understand why he cries like a baby.

 

[Moxie]

^ Boehner voted for the Medicare expansion talked about here : Republican Deficit Hypocrisy - Forbes.com

Those pie charts are misleading as far as total dollars collected and spent, but most aren't actually referring to that when they talk about the federal deficit. The social security system still has trillions in reserve and nobody seems to factor that in when talking about debt. Last year was the first year where social security spent more than they took in.